IMHO it just shows that its more hype than substance.
Did you watch the same thing I did? I saw some very high-stakes and extremely impressive riding. Plenty substance if you ask me. Hardline was started by the Athertons and has gradually grown over the years. Its managed and designed for riders by riders.
I am not sure there are that many lining up to race this event (or even capable of doing so). I understand that plenty of the worlds best have turned up, taken a look, hit a few lines and decided its not for them.
I for one am glad that Red bull continue to support and put out such free-to-view events.